– Divestiture Supports Company Focus on Development and Commercialization of Abecma-
CAMBRIDGE, MA, USA I June 26, 2024 I 2seventy bio, Inc. (Nasdaq: TSVT), announced today the completion of an asset purchase agreement (“APA”) by Novo Nordisk. Under the terms of the APA, Novo Nordisk has acquired the Hemophilia A program and rights to 2seventy’s in vivo gene editing technology outside of oncology and gene editing for autologous or allogeneic cell therapies of immune cells for the treatment of autoimmune disease. The 2seventy bio team currently involved in the program will join Novo Nordisk and continue to advance the technology.
The program is based on the original research agreement, established in 2019, which focused on a gene editing therapy for people with Hemophilia A. 2seventy bio will focus exclusively on the commercialization and continued development of Abecma (idecabtagene vicleucel), its BCMA-targeted CAR T cell therapy for multiple myeloma, in collaboration with Bristol Myers Squibb (BMS).
“We are pleased to announce the completion of this APA with Novo Nordisk as we believe it will provide the appropriate resources for both the team and the science behind this important program,” said Chip Baird, CEO, 2seventy bio. “Novo Nordisk has been a valued partner over the past five years, and we are confident that under their leadership, the promise of developing a new treatment approach for patients living with Hemophilia A will continue to progress. We are extremely grateful to the 2seventy team members joining Novo Nordisk and thank them for their incredible work. In addition, the divestiture supports 2seventy’s exclusive focus on delivering Abecma to as many patients as possible.”
“I am excited that we are expanding our genome editing technology platforms at Novo Nordisk. We are devoted to developing therapies with a curative outlook, including our continued development of a next-generation in vivo genome editing program aiming to offer individuals living with Hemophilia A a lifetime free of factor replacement therapy,” said Karina Thorn, Novo Nordisk, Corporate Vice President, Global Nucleic Acid Therapies Research. “We have been working closely with 2seventy bio colleagues aligned with our collaboration and I am thrilled to welcome them to Novo Nordisk where we together will leverage the megaTAL technology for pioneering therapeutic applications.”
Under the terms of the agreement, 2seventy will potentially receive payments of up to $40 million. 2seventy will transfer the Hemophilia A program to Novo Nordisk and the existing collaboration agreement will terminate. Additionally, the divestiture will include transfer of 2seventy bio’s megaTAL technology and a license to underlying intellectual property.
About 2seventy bio
Our name, 2seventy bio, reflects why we do what we do – TIME. Cancer rips time away, and our goal is to work at the maximum speed of translating human thought into action – 270 miles per hour – to give the people we serve more time. With a deep understanding of the human body’s immune response to tumor cells and how to translate cell therapies into practice, we’re applying this knowledge to deliver the first FDA-approved CAR T cell therapy for multiple myeloma to as many patients as possible. Importantly, we remain focused on accomplishing our mission by staying genuine and authentic to our “why” and keeping our people and culture top of mind every day.
For more information, visit www.2seventybio.com.
SOURCE: 2seventy
Post Views: 4,040
– Divestiture Supports Company Focus on Development and Commercialization of Abecma-
CAMBRIDGE, MA, USA I June 26, 2024 I 2seventy bio, Inc. (Nasdaq: TSVT), announced today the completion of an asset purchase agreement (“APA”) by Novo Nordisk. Under the terms of the APA, Novo Nordisk has acquired the Hemophilia A program and rights to 2seventy’s in vivo gene editing technology outside of oncology and gene editing for autologous or allogeneic cell therapies of immune cells for the treatment of autoimmune disease. The 2seventy bio team currently involved in the program will join Novo Nordisk and continue to advance the technology.
The program is based on the original research agreement, established in 2019, which focused on a gene editing therapy for people with Hemophilia A. 2seventy bio will focus exclusively on the commercialization and continued development of Abecma (idecabtagene vicleucel), its BCMA-targeted CAR T cell therapy for multiple myeloma, in collaboration with Bristol Myers Squibb (BMS).
“We are pleased to announce the completion of this APA with Novo Nordisk as we believe it will provide the appropriate resources for both the team and the science behind this important program,” said Chip Baird, CEO, 2seventy bio. “Novo Nordisk has been a valued partner over the past five years, and we are confident that under their leadership, the promise of developing a new treatment approach for patients living with Hemophilia A will continue to progress. We are extremely grateful to the 2seventy team members joining Novo Nordisk and thank them for their incredible work. In addition, the divestiture supports 2seventy’s exclusive focus on delivering Abecma to as many patients as possible.”
“I am excited that we are expanding our genome editing technology platforms at Novo Nordisk. We are devoted to developing therapies with a curative outlook, including our continued development of a next-generation in vivo genome editing program aiming to offer individuals living with Hemophilia A a lifetime free of factor replacement therapy,” said Karina Thorn, Novo Nordisk, Corporate Vice President, Global Nucleic Acid Therapies Research. “We have been working closely with 2seventy bio colleagues aligned with our collaboration and I am thrilled to welcome them to Novo Nordisk where we together will leverage the megaTAL technology for pioneering therapeutic applications.”
Under the terms of the agreement, 2seventy will potentially receive payments of up to $40 million. 2seventy will transfer the Hemophilia A program to Novo Nordisk and the existing collaboration agreement will terminate. Additionally, the divestiture will include transfer of 2seventy bio’s megaTAL technology and a license to underlying intellectual property.
About 2seventy bio
Our name, 2seventy bio, reflects why we do what we do – TIME. Cancer rips time away, and our goal is to work at the maximum speed of translating human thought into action – 270 miles per hour – to give the people we serve more time. With a deep understanding of the human body’s immune response to tumor cells and how to translate cell therapies into practice, we’re applying this knowledge to deliver the first FDA-approved CAR T cell therapy for multiple myeloma to as many patients as possible. Importantly, we remain focused on accomplishing our mission by staying genuine and authentic to our “why” and keeping our people and culture top of mind every day.
For more information, visit www.2seventybio.com.
SOURCE: 2seventy
Post Views: 4,040
